KYIV, Oct 28 – Ukraine’s economy will probably shrink 35.6% on the year in the fourth quarter, accelerating from 34.4% contraction recorded in the third quarter, the National Bank of Ukraine reported.

In the first quarter of 2023, the economy will also contract, by another 17.5% on the year, given the higher base of the first quarter of 2022, when the decline was 15.1%, and recovery will begin from the second quarter of 2023.